The Saudi Arabia Stock Exchange, known as the Tadawul All Share, concluded the trading session with a marginal increase of 0.11%. While this may seem like a modest gain, it reflects the resilience of the Saudi market amidst various economic factors.
The standout performers of the day were Arab Sea Information Systems Co SJSC (TADAWUL:7201), which saw an impressive 8.93% surge, closing at 6.95 points. Similarly, Saudi Pharmaceutical Appliances (TADAWUL:2070) showed strength, climbing 4.85% to end the day at 35.70 points. Another notable gainer was Al Sorayai Trading & Industrial Group (TADAWUL:1213), with a 4.36% increase, closing at 55.00 points.
Conversely, some stocks experienced declines. Al Omran Industrial & Trading Co (TADAWUL:4141) suffered the most significant setback, falling 8.37% to trade at 38.30 points. Al Baha Investment and Development Company SJSC (TADAWUL:4130) also faced a decline of 6.67%, closing at 0.14 points. Development Works Food Co (TADAWUL:6013) witnessed a more modest 3.20% decrease, ending at 145.20 points.
In terms of market breadth, rising stocks outnumbered declining ones, with 147 stocks gaining ground compared to 119 stocks that experienced a decline at the close. Additionally, 28 stocks remained unchanged, demonstrating market stability.
Amidst the stock performance, Al Sorayai Trading & Industrial Group (TADAWUL:1213) reached a 52-week high, showcasing the positive sentiment surrounding the company, which experienced a 4.36% increase.
In commodities trading, the price of crude oil for January delivery experienced a downward trend, dipping 2.50% to $75.17 per barrel. Similarly, Brent oil for delivery in January decreased by 1.46%, reaching $80.23 per barrel. On the other hand, the December Gold Futures contract witnessed a 0.55% increase, trading at $2,003.70 per troy ounce.
In currency markets, the EUR/SAR (Euro to Saudi Riyal) exchange rate increased by 0.36%, amounting to 4.11. Conversely, the USD/SAR (US Dollar to Saudi Riyal) exchange rate remained unchanged at 3.75. The US Dollar Index Futures, which measures the value of the dollar against a basket of other major currencies, experienced a decline of 0.52%, closing at 103.29.
Overall, the Saudi Arabia Stock Exchange demonstrated resilience, highlighting the positive performance of various companies despite the economic challenges faced globally.
Frequently Asked Questions (FAQ)
1. How did the Saudi Arabia Stock Exchange perform?
The Tadawul All Share, the main stock index of the Saudi Arabia Stock Exchange, closed with a modest gain of 0.11%.
2. Which companies were the best performers?
Arab Sea Information Systems Co SJSC (TADAWUL:7201) showed the strongest performance, rising by 8.93%, followed by Saudi Pharmaceutical Appliances (TADAWUL:2070) with a gain of 4.85%, and Al Sorayai Trading & Industrial Group (TADAWUL:1213) with an increase of 4.36%.
3. Which companies experienced the largest declines?
The worst performers of the session were Al Omran Industrial & Trading Co (TADAWUL:4141), which fell by 8.37%, Al Baha Investment and Development Company SJSC (TADAWUL:4130) declined by 6.67%, and Development Works Food Co (TADAWUL:6013) was down by 3.20%.
4. How did the commodities market fare?
Crude oil for January delivery dropped by 2.50% to $75.17 per barrel, while Brent oil for delivery in January fell by 1.46% to $80.23 per barrel. The December Gold Futures contract, however, increased by 0.55% to trade at $2,003.70 per troy ounce.
5. What were the currency exchange rate movements?
The EUR/SAR exchange rate rose by 0.36% to 4.11, while the USD/SAR exchange rate remained unchanged at 3.75. The US Dollar Index Futures declined by 0.52% to 103.29.